Tencent Pledges to Abandon Exclusive Copyright Licensing Deals on May 22, Following Antimonopoly Decision

GateNews
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On May 22, Tencent Holdings and Tencent Music Entertainment Group announced that, according to the antimonopoly decision from China's State Administration for Market Regulation issued on May 11, they commit to not entering into exclusive copyright licensing contracts with copyright holders as defined in the commitment plan. The companies will also terminate existing exclusive licensing agreements within the timeframe specified in the decision. Tencent stated it will relinquish exclusive authorization rights in online audio content agreements and allow copyright holders to freely license to other operators without liability. The company pledged to transition to non-exclusive cooperation arrangements with content partners going forward.
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